What Are Some Of The Common Roles And Functions Of Financial Managers? Describe The Basic Differences Between A Comptroller And A Treasurer. How Important Do You Think An Internal Auditor Is To An Organization? Explain Your Answer.


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The way I understand this is that the common roles and functions of financial managers can be many different duties and positions. The duties of financial managers include comptroller and treasurer.

The comptroller takes care of the accounting and reporting and produces financial reports associated with the businesses budget.

The treasurer takes care of the company’s money and is responsible for the banking and cash management as well as the management of the company’s retirement funds and such. This position is usually also responsible for the accounts payable and patient accounts.

When dealing with larger organizations it is mandatory to have an internal auditor to make sure the business management of the company stays on the up and up. The person in this position cannot be associated with those they are auditing because it would be a conflict of interest. If a business does not have an internal auditor the employees may not stay within the guidelines that the company would like them to follow and if there were no internal auditor it would take some time for this mismanagement to be noticed.

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